USDA’s May WASDE (supply/demand) contained more positive news in terms of price potential for MY 2018/19 than there has been over the past several years. WPI has commented several times this spring on how world weather, starting with the major drought across Argentina, hasn’t been as production-friendly. U.S. ending stocks of wheat, corn and soybeans are all projected to decline in the coming marketing year, but the degree of those drops will of course depend on final yields. Following are a few items the market must pay attention to going forward:
The U.S. wheat production forecast is too high. Kansas abandonment was pegged at only 5.2 percent in yesterday’s reports versus 8.6 percent last year, and Oklahoma was place...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
